Page 2 Advertisements Column 5

Oamaru Mail, Volume III, Issue 631, 11 May 1878, Page 2

LATE ADVERTISEMENTS <HE COLONIAL INSURANCE COMPANY OF NEW ZEALAND. (Registered nnddr the Joint-Stock Com- '•'; panics Acts) for FIRE AN© MARINE INSURANCE. Capital ... ; ' .... £2,000,000 Sterling, In 200.000 Shates of £lO each. Ten Shillings per Share payable thereon, making £IOO.OOO Cash Capital. First Issue, 100,000 Shares. 2a. 6d. per share payable on application ; 2s. 6d. upon allotment ; and ss. per share at call, not less than three months after registration. Chief Office Wellington. BOARD OF DIRECTORS. Chairman : The Hon. C. J. Phakazyn, M.L.C., Chnirinati Tocal Hoard Australian Mutual Provident Society. VICE-CIIAIKMEK : The Hon. Randall Johnson, M.L.C., Managing Director Northern Laud and Loan Company Jacob Josi'Tir, Esq., Merchant A. i>k I>. Brandon, Esq., M.H.R., Tjocal Director Australian Mutual Provident Society E. W. Mills, Esq., Merchant The Hon. M. S. Ouack, M.L.C., Local Director Australian Mutual Provident Society Walteh J. Nathan, Esq , Merchant Local Dirki'tous, ('liiusTcnniicii. Hon. Ekwii. Uiciiaudson. A1.11.1L Henry W. Leu, Esq., of Messrs. Ward and Co. W. Saunders, Esq., of Messrs. Saunders and Henderson C. W. T, r.NKii, Ecq.. Merchant. Solicitors : Messrs. Brandon ani> Son. Wellington. General Manaceu : Georue Samci'.l (Jkaiiam. (Now Inspector Norwich Union Society). Bank cits : The Bank of New Zealand. Secuvtaky : For organisation (and subsequent agent for Canterbury). Mr. Fkkdk. E. A. Ckaiia.u. Copies of the Memorandum and Articles of Association can lie seen at the Ollico of the Company, and at any of the Branches of the Bank of New Zealand, where forms of application can be obtained, and deposits will be received. The Directors each subscribed for LIOOO eash (beinjr put of ordinary capital) prior to the formation of the Company, and have undertaken its organisation as a thoroughly Colonial Institution, with h-ad-quartcrs at "iVepington. One-half only of the shares will bo immediately issued, and the Directors, having already apportioned a considerable number in securing a large amount of important support, arc prepared to place the available balance in fair proportions throughout the Colonv with persons whose business or influence is calculated to be valuable to the Company in the mutual interests of all concerned. The Company being thus possessed of st 'ong insurance support, and being able to oiler tbe public the guarantee of ample cash capital, with thorough security, will commen -p. business, the whole of the remaining 100,000 shares being reserved for allotment, in successive issues to actual insurers with the Company, under the provisions of the\rfcieles of Association, in proportion to the insurance premiums paid by them. The proportion of shares for issue, compared to the amount of pounds sterlinj,' of insurance premiums paid, will be declared from time to time at the discretion of the Directors, so as to offer a continuous inducement to insurers to join tlic Company. Several of the Directors have had experience of the great advantage of mutuality in connection with the most successful of Life Assurance Association existing, and, nfter long consideration, the Board are satisfied that the present proposal comprehends the most prwcical embodiment of that •rineipa! applicable to Fire and Marine business.

The Directors are fully alive to the importance of considering in the first allotment the great body of small insurers, ami they have also determined, notwithstanding any pressuro, upon maintaining tho chief ooint of their proposal, viz., that they will j keep in hand the whole of tho remaining 10(1,(1(10 shares for future allotment to actual insurers upon the definite and equitable basis above stated, which places all ranks of insurers upon an equal footing The Directors have therefore calculated upon the following results, viz. : That tho method of fixing the capital will attach a large amount of business, and that tho Company will have the sympathies of the public as a Colonial Institution, open to all insurers upon a mutual principle, and yet baij<c<l by large capital, security, and business. Tho Companies hitherto foin.v>d have been uniformly successful, and tho vapul progress of the Colony fully warrants the formation of a similar institution in its Capital City. The rates and general terms of business of the Company will be similar to whatever may he current from time to time, as the iusnrcd will be enabled to participate* as nearly as possible in proportion to the profits derivable therefrom. It is not anticipated that any further calln will bo made, The applications for shares will lx» ecu. | sidered as received, and the L\s*t* will be I closed in each Province at tho discretion of [ the Directors. ! 7/in Bank of New Zutkm? !s now juvftand *o renew!?, uppliocUicMx fbr xharn. fi7!) IMPORTANT ANNOUNCEMENT, NEW HAIRDRESSING, SHAVING, SHAMPOOING ESTABLISHMENT, TYNE-STRKET, OAMARU. l|- T A Y L O 11, iVI. being desirous of studying the convenience of a large number of his Country Customers, has OPKNKD that centrallysituated SHOP [N TYNB-STRKICT, Opposite the Criterion Hotel, as a HAIRDRESSING, SHAVING, AND SHAMPOOING ESTABLISHMENT, Where he hopts to meet many of his patron?. Evory description of HAIR WORK, COMBS, BRUSHES, PERFUMERY, &c, Imported direct from Home, alwayH in Stock. TOBACCO, PIPES, CIGARS, &c. N.B.—M. Taylor will continue his Business in Thames-street, as heretofore. "43 WANTED the fUIiLIC to KM'W that Advertisements of 10 Words or under are inserted in the Wanted Cohiniu of the Evening Mail for ONE SHILLING.